Formation of AETOS Security Management Pte Ltd
31 March 2004
Temasek Holdings has formed a wholly-owned company, Aetos Security Management Pte Ltd (“Aetos”), which will combine the security units of PSA Corporation Ltd (“PSA”) and Singapore Technologies Kinetics Ltd (“ST Kinetics”) to offer integrated security management services. The two security units will be transferred to Aetos by 1 April 2004. Following the transfer, Aetos will have a staff strength of approximately 300.
Aetos is currently also in discussion with Changi International Airport Services Pte Ltd (“CIAS”) to acquire its security business.
Mr Andrew Tan, formerly the Senior Vice President and General Manager of Ordnance Development and Engineering Company of Singapore (1996) Pte Ltd, has been appointed as the General Manager of Aetos.
“The merged entity will reap cost synergies and economies of scale by leveraging on the combined strengths of the security units, thereby placing it in a better position to pursue future growth opportunities. We intend to further harness the existing expertise to capitalise on the growing outsourcing trend and demand for professional security services,” commented Mr Tan.
“Aetos aims to be one of Asia’s leading integrated security management services providers. While our immediate concern is to ensure a smooth transition for all existing customers and business partners, our plan is to expand our reach and focus into Asia as well as to tap into the region’s growth potential,” Mr Tan added.
Aetos’ competitive edge will lie in its ability to provide armed-guard security services, as well as technology-enabled security and surveillance systems. With its core capability of high security protection expertise, Aetos is well placed to meet a variety of security threats to high-value assets. Supported by a team of well-trained and disciplined professionals, Aetos will provide cost effective and customised solutions for high security installations in Singapore and the region.
By outsourcing their security requirements to Aetos, PSA and STK can expect to enhance their security standards with the professional services provided by Aetos. Such an outsourcing arrangement will also enable the companies to remain focused on their respective core competencies.
About Temasek Holdings (Private) Limited
Temasek Holdings (Private) Limited is an investment holding company based in Singapore. Established in 1974, it holds and manages investments in companies which are involved in a wide range of business activities, from port, shipping and logistics, to banking and financial services, airlines, telecoms and media, power and utilities, and rail. Many of these are leading companies in Singapore, including Singapore Airlines, Singapore Telecoms, Singapore Technologies, Neptune Orient Lines-APL, PSA Corporation, DBS Bank and Singapore Power.
For more information, please visit www.temasekholdings.com.sg.
About Aetos Security Management Pte Ltd
Aetos aims to be a premier security management services provider, offering cost effective armed-guard services and integrated security solutions for key installations in Singapore and the region. It will provide security solutions by leveraging on cutting-edge security and surveillance technologies.
About Changi International Airport Services Pte Ltd
Changi International Airport Services (CIAS) Group is an integrated ground handling service provider at the Singapore Changi Airport. CIAS provides a comprehensive range of services at the Airport, which includes cargo handling, inflight catering, passenger and baggage handling, ramp handling, flight operations, and security services.
Besides Singapore, CIAS also operates ground handling services at the Guangzhou Baiyun International Airport and the Hong Kong International Airport.
For more information on CIAS, please visit our website http://www.cias.com.sg/.
About PSA Corporation Ltd
PSA Corporation operates the world's largest container transhipment hub in Singapore. It provides every shipper a choice of 200 shipping lines with connections to 600 ports in 123 countries. Besides its operations in Singapore, the PSA Group participates in port projects in China, East Asia, Europe and India.
For more information, please visit http://www.psa.com.sg/.
About Singapore Technologies Kinetics Ltd
ST Kinetics is the land systems arm of Singapore Technologies Engineering (ST Engg). It provides design and engineering services for both commercial and military vehicles and related products, ranging from manufacturing, upgrading, repair and maintenance to complete life cycle management. It also provides component and sub-system design and development, and laboratory and industrial test services. Formerly known as Singapore Technologies Automotive, it was renamed ST Kinetics after it acquired the Chartered Industries of Singapore in 2000.
For more information, please visit http://www.stengg.com/.
For media enquiries, please contact:
Associate Director, Corporate Communications
Temasek Holdings (Pte) Ltd
Tel: (65) 6828 6765
Mobile: (65) 9692 0918